OREANDA-NEWS. OJSC Belarusian Universal Commodity Exchange (BUCE) and Kazakhstan's commodity exchange entitled “Eurasian Trade System” (ETS) signed an cooperation agreement in Astana on May 29 to facilitate cooperation among registered traders and their customers by means of holding joint sessions, exchanging experience and promoting institutional partnership, the BUCE and the ETS said in a joint press release.

The agreement was signed by ETS chief Kurmet Orazayev and BUCE chief Arkadi Salikov within the framework of the session of the EurAsEC Supreme Council on May 28-29, with presidents of Belarus, Russia and Kazakhstan in attendance.

Initially, the ETS plans to arrange for trading sessions in wheat, coal and milk powder, while the BUCE will offer beef carcasses, sugar and other commodities.

The parties will cooperate on the level of account clearing systems, which will make it possible to settle accounts in home currency, promote competition, and reduce operational expenditures.

Belarusian Universal Commodity Exchange OJSC was registered by Minsk City administration on May 25 2004. Its founders are the Belarusian Material Resources Concern, national company Beltorginfoservis, Savings Bank Belarusbank OJSC, Beleximgarant export-import insurer.

The state holds a 98% stake in the UCE statutory capital.

The list of commodities that can be traded at the mercantile exchange includes timber, farm products, industrial and consumer goods.

Belarus' Universal Commodity Exchange in March 2011 became a full member of the Association of Future Markets (AFM).